Active

151 S Mountainview Ave

Los Angeles CA, 90057

$2,200,000


$336.60 per sqft

Active

10 Beds

10 Baths

6,536 sqft

Multi-family

Built in 1954

Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.

24-463489

MLS ID

November 13, 2024

Listed

November 21, 2024

Updated

Map

151 S Mountainview Ave
Los Angeles CA, 90057

Interior Features

Total Stories

2


Bedrooms

10


Total Bathrooms

10


Appliances

Refrigerator


Floor Description

Laminate, Ceramic Tile


Fireplace

No


Cooling

Yes


Cooling Description

Ceiling Fan


Heating

Yes


Heating Description

Wall Electric

Exterior/Building Features

Lot Size

0.15 Acres

Other Property Details

Area Name

Downtown L.A.


Days on Market

8


Garage

No


Parking

Attached


Parking Total

8


View

No


County

Los Angeles


Pool

No


Zoning

LAC2

Listed by Armin Soleimani with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Landon Pacific Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 11/21/2024

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